USD 191 mn Diriyah hotel contract

Indian construction firm Ashoka Buildcon’s joint venture in Saudi Arabia bagged the main contract for the Diriyah II One Hotel project in Riyadh, awarded by Diriyah Company, Zawya reports. The project, valued at USD 191.1 mn, is scheduled for completion within 27 months. The JV is between Ashoka Buildcon and Saudi partner BEC Arabia Contracting Co., with Ashoka holding a 49% stake.

Why it matters: Owned by the Public Investment Fund, Diriyah, a USD 63 bn real estate and tourism development project, is part of a larger trend of Indian engineering and construction firms securing work on Saudi’s Giga Projects.

Amarak launches 60k TPA sulphur plant in Jafza

AmarakChemicals, an associate of India-based Aries Group, has started producing sulphur-based agricultural products at a new facility in Dubai’s Jebel Ali FreeZone (Jafza), according to a company statement. The plant is designed to manufacture sulphur bentonite and other sulphur-derived inputs used in agriculture with a capacity of up to 60k metric tonnes per year. The company’s Jafza unit is registered under the India-UAE CEPA, enabling zero-duty exports from the facility.

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